Venus Remedies has received marketing approval from Saudi Arabia, the largest pharmaceutical market in the Gulf Cooperation Council (GCC) region, for its product Enoxaparin in pre-filled syringes. The company has an annual capacity of producing more than 5 million units of Enoxaparin, a widely used anticoagulant that prevents blood clots, at its robotic line. Having secured marketing authorizations from Saudi Arabia for six antibiotics meant for intensive care units and three oncology products, Venus Remedies has so far sold more than 12 million units of drugs in the $7.8-billion Saudi Arabian pharmaceutical market (as in 2021), which is expected to grow to $13.1 billion by 2031 at a 10-year CAGR of 5.4 per cent.
The marketing approval for Enoxaparin from Saudi Arabia, the leading country in the Gulf region in terms of quality benchmarks as well, is expected to soon pave the way for grant of marketing authorizations to Venus Remedies for the drug from other countries in GCC and Middle East and North Africa (MENA) regions where the submissions have already been made and consider the Saudi Food and Drug Authority (SFDA) as a reference authority.
Venus Remedies is one of the handful player in pharmaceutical sector to launch world global injectable manufacturers.
